Volatility Bets Get a Rare Win

By Brendan Conway

Some of the top gainers in Wednesday’s trading are among the market’s bigger losers this year.

The ProShares Ultra VIX Short-Term Futures ETF (UVXY), down about 97% YTD, is up 10% in late-session trading. The VelocityShares Daily 2x VIX Short Term ETN (TVIX), also down 97% or so, is up 9%. The Barclays iPath S&P 500 Short-term VIX Futures ETN (VXX), down 79% this year, is ahead by more than five percent.

About Focus on Funds

As exchange-traded funds and other investing vehicles have ballooned in number, the task of figuring out what works well and what doesn’t has only gotten harder. Barrons.com’s Focus on Funds looks under the hood of ETFs, mutual funds and hedge funds for overlooked values, actionable ideas and the latest pitfalls for fund investors.

Chris Dieterich has covered the U.S. stock market for The Wall Street Journal and Dow Jones Newswires. He is a graduate of Regis University and the Missouri School of Journalism.